Datameer Funnel Optimization · To do this, they needed to understand and measure how people move...
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Why optimize funnel conversion? The fastest way to increase revenue is to get people in the funnel to convert faster and more often. Conversion may be adding an item to a shopping cart or signing up for a whitepaper. There are two main objectives of funnel conversion optimization. First, identifying and removing the roadblocks in the process will close a customer faster. Second, early filtering out of leads that will not likely close saves time and money. Challenges The leading software security company used Datameer to triple the rate at which people converted from being a visitor of their website to a paying customer. To do this, they needed to understand and measure how people move through a funnel and eventually close. People use a number of tools before they purchase. As a result, companies have a number of systems, such as search engine advertising, marketing automation and email nurturing, CRM and A/B testing to independently collect and analyze a lead’s behavior. Integrating all of this data in a way that can be analyzed is a slow, cumbersome and IT driven process that can take up to 18 months. Integrating structured and unstructured data sources such as transactions and weblogs is especially challenging and expensive for traditional database and analytics solutions. In addition, the company needed to get the optimal leads to close without spending a lot of time and money on low quality leads. Without filtering out the most qualified leads, the company would be generating a lot of web traffic without many sales. Solution After a failed attempt to integrate and analyze all customer acquisition data with traditional data analytics infrastructure, the security software company turned to Datameer and Hadoop. Datameer provided a complete Big Data analytics solution, including software and identifying and recommending hardware, network and Hadoop infrastructure. Datameer’s solution included data integration, analytics and visualization as well as administration such as data security and monitoring. Let’s discuss the data integration, analytics and visualization in more detail now. Solution: Data integration Datameer’s 55 pre-built data connectors enabled the company to quickly load data from Google Adwords, web logs, logs from a content delivery network, Marketo, JSON from product logs and a CRM system, all within less than a week. After the initial load, Datameer was set up to load data on an hourly basis. Solution: Analysis CASE STUDY Executive Summary A leading software security company used Datameer to integrate and analyze all their customer acquisition data. Through the analysis, they identified the bottlenecks in the conversion process that enabled them to triple customer conversion and increase revenue by $20M within 6 months. Funnel Optimization
Transcript of Datameer Funnel Optimization · To do this, they needed to understand and measure how people move...
Why optimize funnel conversion?The fastest way to increase revenue is to get people in the funnel to convert faster and more often. Conversion may be adding an item to a shopping cart or signing up for a whitepaper. There are two main objectives of funnel conversion optimization. First, identifying and removing the roadblocks in the process will close a customer faster. Second, early filtering out of leads that will not likely close saves time and money.
ChallengesThe leading software security company used Datameer to triple the rate at which people converted from being a visitor of their website to a paying customer. To do this, they needed to understand and measure how people move through a funnel and eventually close.
People use a number of tools before they purchase. As a result, companies have a number of systems, such as search engine advertising, marketing automation and email nurturing, CRM and A/B testing to independently collect and analyze a lead’s behavior. Integrating all of this data in a way that can be analyzed is a slow, cumbersome and IT driven process that can take up to 18 months. Integrating structured and unstructured data sources such as transactions and weblogs is especially challenging and expensive for traditional database and analytics solutions.
In addition, the company needed to get the optimal leads to close without spending a lot of time and money on low quality leads. Without filtering out the most qualified leads, the company would be generating a lot of web traffic without many sales.
SolutionAfter a failed attempt to integrate and analyze all customer acquisition data with traditional data analytics infrastructure, the security software company turned to Datameer and Hadoop.
Datameer provided a complete Big Data analytics solution, including software and identifying and recommending hardware, network and Hadoop infrastructure. Datameer’s solution included data integration, analytics and visualization as well as administration such as data security and monitoring. Let’s discuss the data integration, analytics and visualization in more detail now.
Solution: Data integration
Datameer’s 55 pre-built data connectors enabled the company to quickly load data from Google Adwords, web logs, logs from a content delivery network, Marketo, JSON from product logs and a CRM system, all within less than a week. After the initial load, Datameer was set up to load data on an hourly basis.
Solution: Analysis
CASE STUDY
Executive SummaryA leading software security company used Datameer to integrate and analyze all their customer acquisition data. Through the analysis, they identified the bottlenecks in the conversion process that enabled them to triple customer conversion and increase revenue by $20M within 6 months.
Funnel Optimization
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Summary of Benefits A leading software company used Datameer to integrate diverse and large data sets and analyze that data to optimize their customer acquisition funnel. The benefits included:
Reducing IT CostsIntegrating disparate sources of data within in a week instead of months using traditional business intelligence tools.
Optimizing Advertising SpendOptimize Google adwordsbased on sales rather than traffic.
Increasing Conversion3x increase in customer conversion rate, resulting in additional $20M in revenue within 6 months.
Ad optimization for higher quality leadsUsing the intuitive, powerful Datameer spreadsheet user interface, it took less than a day for a business user to join all data together. The first analysis showed that certain key words in Google ads generated a lot of traffic but very little sales in the end. Using this data, the marketing team optimized their keywords. As the monthly cost for the Google ads was in the hundreds of thousands of dollars, using Datameer enabled them to get more for their money.
Identification of blockage points to enhance productIn an additional analysis, a single business user was able to identify challenges in content delivery in particular regions. Using Datameer, the user identified the blockage points in the installation process. She found that in certain countries, due to network bandwidth issues, customers aborted the installation process because the installation was taking too long. So the company reduced the size of the downloaded product, reducing installation time, and saw an increase in number of product downloads in those regions.
Solution: Visualizations
After the initial data discovery, data visualizations were configured to run on an hourly schedule. These visual reports allowed the business users to monitor the funnel performance and help identify operational challenges with website, download delivery system and new product versions on a daily basis. For example, by seeing funnel drops on an hourly basis, users could see when the website went down, when there were network delivery problems, or when a product had issues.
CASE STUDY
